Enel Chile (NYSE:ENIC) Stock Rated Neutral in New Coverage at Bank of America

Bank of America began coverage on shares of Enel Chile (NYSE:ENIC) in a report issued on Thursday morning, Marketbeat reports. The firm issued a neutral rating on the utilities provider’s stock.

A number of other equities analysts also recently weighed in on ENIC. Weiss Ratings reissued a “hold (c)” rating on shares of Enel Chile in a research report on Friday, July 17th. Itau BBA Securities cut Enel Chile to a “market perform” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Enel Chile has an average rating of “Hold” and a consensus target price of $4.65.

Enel Chile Stock Performance

Shares of ENIC opened at $4.46 on Thursday. The firm has a market cap of $6.18 billion, a P/E ratio of 10.63 and a beta of 1.02. Enel Chile has a twelve month low of $3.62 and a twelve month high of $4.74. The firm’s 50 day moving average price is $4.39 and its two-hundred day moving average price is $4.39.

Enel Chile (NYSE:ENIC) last posted its quarterly earnings data on Tuesday, June 30th. The utilities provider reported $0.08 earnings per share for the quarter. Enel Chile had a return on equity of 10.20% and a net margin of 12.30%. The company had revenue of $1.07 billion during the quarter. On average, sell-side analysts anticipate that Enel Chile will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of Enel Chile

A number of hedge funds have recently modified their holdings of the stock. Eastern Bank bought a new position in Enel Chile in the 2nd quarter valued at about $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Enel Chile in the first quarter valued at approximately $41,000. Sanctuary Advisors LLC acquired a new position in shares of Enel Chile in the first quarter valued at approximately $43,000. SmartHarvest Portfolios LLC bought a new position in shares of Enel Chile during the first quarter worth approximately $43,000. Finally, OneAscent Investment Solutions LLC bought a new position in shares of Enel Chile during the second quarter worth approximately $65,000. Institutional investors and hedge funds own 3.20% of the company’s stock.

About Enel Chile

Enel Chile SA is an electric utility company that operates across the Chilean energy sector. The company is part of the Enel Group and is headquartered in Santiago, Chile. Its American depositary receipts trade on the New York Stock Exchange under the symbol ENIC.

Enel Chile’s activities include electricity generation, transmission-related operations and power distribution. Its generation portfolio includes renewable and conventional technologies, such as hydroelectric, solar, wind and thermal power.